1 tribe review

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1 tribe review

  1. 1. Bellringer1. Give an example of the law of demand from your Spring Break. Something you bought, didn’t buy or witnessed 2. For each part of TRIBE, identify a change to the Miami hotel market. For example: Taste: during Spring Break demand for hotels increases B/C school is out.
  2. 2. As of Sun 3/23
  3. 3. White boards Which part of TRIBE will change in the following scenarios to the Tucson gasoline market? 1. Summer time 2. Used cars get more expensive 3. Sun Tran rates increase by 10% 4. Alaskan oil spill, consumers think gas prices will increase next month 5. Tesla electric cars get cheaper 6. New freeway connects Eastside with rest of Tucson
  4. 4. White boards Which part of TRIBE will change in the following scenarios to the Spam market? 1. US unemployment falls by 1% 2. Price of bacon drops by 5% 3. Restaurant prices increase after US minimum wage increase 4. TUSD stops selling school lunches, students must bring lunch from home 5. Median wage increases in Arizona
  5. 5. Last Friday’s assignment • For each sentence explaining why the part of TRIBE is correct 1. New residents move to Arizona (Buyers, D increase) 2. Unemployment rises (Income, D decrease) 3. The price of spaghetti noodles increases (Related Good, D decrease) 4. Americans try to eat healthier and eat more salads (Tastes, D increase) 5. Americans try to eat healthier and eat less pizza (Tastes, D decrease) 6. Price of tomatoes decreases (No change) 7. Average US income rises (Income, D increase) 8. V8 juice company goes out of business (Buyers, D decrease) 9. The price of ground beef decreases (Related Good, D increases) 10. Media reports salmonella outbreak from California tomatoes (Tastes, D decrease) 11. Consumers predict tomato prices to increase next month (Expectations, D increase) 12. Salsa becomes #1 US condiment (Tastes, D increase) 13. Price of tortilla chips triples (Related Good, D decrease) 14. Make up your own example and explain demand change

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